Multifamily Property with
New
For Sale
$340,000
1062 Nw Warrenton Dr, Warrenton, OR 97146
Three-bedroom main residence includes a separate studio above the shop.
Property Size1,709 SF
Price / SF$198.95
Days on Market5
Property Features for 1062 Nw Warrenton Dr
General Information
Standard status
Active
Size
1,709 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
fixer
Units
Unit Mix
1 x 3BR/2BA, 1 x studio
Multifamily Units
2
Building Details
Year Built
1966
Listing Agency:
SALTAIRE Coastal Homes
Listed By:
Christy Coulombe
(503) 724-2400
Source:
Livingoregoncoast
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 13 at 2:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SALTAIRE Coastal Homes
Investment Insights
Based on property information with market context.
This 1,709-square-foot multifamily property, built in 1966, combines a three-bedroom, two-bathroom main residence with a studio apartment positioned over the shop. The building also includes unfinished roughed-in space, multiple cooking areas, and additional sinks. A newer furnace is among the property improvements.
The site provides substantial parking and dedicated shop space for boat, gear, hobby, or equipment storage. Its configuration also accommodates guests and offers potential for rental income, while the unfinished area leaves room for future completion. The property is being offered as a fixer and will require a buyer’s vision for updating and finishing the existing improvements.
The site provides substantial parking and dedicated shop space for boat, gear, hobby, or equipment storage. Its configuration also accommodates guests and offers potential for rental income, while the unfinished area leaves room for future completion. The property is being offered as a fixer and will require a buyer’s vision for updating and finishing the existing improvements.
Key Highlights
- 1,709 SF multifamily property built in 1966
- Three‑bedroom, two‑bathroom main residence
- Studio apartment located above the shop
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,116
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$222,320
$222.3K
Cap Rate 7%
$158,800
$158.8K
Cap Rate 9%
$123,511
$123.5K
Market Conditions
NOI Build-Up for 1,709 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.7K $16.20/SF
− Vacancy
−$7.5K −$4.37/SF
EGI
$20.2K $11.83/SF
− OpEx
−$9.1K −$5.32/SF
NOI
$11.1K $6.50/SF
Area
Clatsop County, OR
Vacancy
27.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$222,320
Cap Rate 7%
$158,800
Cap Rate 9%
$123,511
Alternative Uses
Best Use
Apartment 5plus
$158.8K
$139.0K – $185.3K
NOI $11,116 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$496.9K
$434.8K – $579.7K
NOI $34,782 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
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Business Placement
Demographics for 97146, OR
7,299
Population
3,449
Households
2.1
Avg Household Size
43
Median Age
25%
College-Educated
94%
High-School Grad
25.6 sq mi
ZIP Area
285
Density / Sq Mi
$79,491
Median Household Income
$46,598
Median Earnings
$1,265
Median Rent
$440,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three-bedroom main residence includes a separate studio above the shop.
Where is this multifamily property located?
The property is located at 1062 Nw Warrenton Dr Warrenton, OR.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1,709 SF multifamily property built in 1966; Three‑bedroom, two‑bathroom main residence; Studio apartment located above the shop
